Dollar strengthens again as risk-off sentiment persists

Dollar strengthens again as risk-off sentiment persists

The dollar is stronger in a movement towards safe havens amid ongoing fears of stimulus pullback and delta variant risk. Greenback outperforms peers ahead of ECB, and Bank of Canada rate decisions this week and as global investors take risk off the table as global growth outlook appears to slow.

“One child, one teacher, one pen, and one book can change the world” -
Malala Yousafzai
  • FX Rates
    September 8, 2021

    Rates are not real time. Rates are today's indicative mid-market rates as of time of publishing, which may vary. Please contact SVB for a current quote.

  • USD

    Thin trading and a flight to safe havens sent the greenback to one-week highs. Pres. Biden will reveal a 6-pronged strategy to combat the latest wave of coronavirus today as 75% of US adults have received at least 1 dose of a vaccine.


    The pound is weaker for a third day versus both the dollar and euro. BoE Governor Andrew Bailey’s comments will be in focus today as he speaks in front of the Treasury Select Committee.


    The euro slid again for a third day in fix-related flows ahead of Thursday’s ECB meeting. Nearby support is the 55DMA of 1.1813. The ECB is expected to conduct a small tapering of asset purchases this week.


    Broad US strength sends USD/CAD higher. Markets will listen to BoC comments following the rate decision due out this morning. A reduction in asset purchases is expected by end of year.


    USD/JPY pulled back slightly amid yen buying and in a flight to havens. Asian markets are concerned about economic impacts of the delta variant and possible future lock-downs.

Contact Us

For more analysis on FX markets or information regarding SVB's FX services:

Contact your respective SVB FX Advisor or the SVB FX Advisory Team at
See all of SVB's latest FX information and commentary at

Subscribe to receive the Daily FX Update in your inbox.

By providing your email address and clicking on the Subscribe button below, you consent to receive emails from Silicon Valley Bank for your chosen categories. You also consent to the terms of our Privacy Notice. If you have privacy questions, you may contact us at You can withdraw your consent at any time.

Kathryn Garvey
Kathryn Garvey

Insights from SVB Industry Experts

SVB experts provide our customers with industry insights, proprietary research and insightful content. Check out these related articles that may be of interest to you.

Risk-on trading following FOMC meeting


Daily FX Update: Busy FX markets ahead of today's Fed meeting


Daily FX Update: US snaps three-day winning streak


Daily FX Update: US dollar trading at one-month highs


Daily FX Update: Dollar gains on “triple-witching”


Dollar takes back yesterday’s losses